The global medical packaging market had a value of US$38.63 billion in 2022 and is projected to grow at a CAGR of 6.9% from 2022 to 2032 to reach US$75.29 billion.
The advancement of bioscience and medicine is a primary driver of the medical industry. Additionally, it should be highlighted that the medical sector contributes significantly to the world economy because it is one of the important assets and offers plenty of room for improvement from time to time.
A few medicinal therapies developed by biotechnology are available in an unstable liquid state and are presented as dry powder dosages or lyophilized forms. Lyophilized pharmaceuticals do require specialised packaging to provide maximum performance, creating new opportunities for OEMs (original equipment manufacturers).
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Rigid bottles, flat pouches, stand-up pouches, blister packs, and sachets are some examples of medical packaging. To improve the safety and functionality of packaging, packaging businesses emphasise the inclusion of administration aids, dispensing mechanisms, tamper-evident features, sustainable materials, and counterfeiting safeguards.
Since a few years ago, Gerresheimer AG has been selling glass bottles constructed of PCR glass. Additionally, it sells bottles made of R-PET and BIO-PET, which are resins manufactured from sugarcane plants. In the upcoming years, it is anticipated that this current trend in sustainable packaging will gain momentum.
Packaging’s key components are plastics and polymers. Pharmaceutical vials, closures, bottles, tubes, cartridges, and similar items are made from a variety of plastic resins, including PET, PE, PVC, PP, PS, and bioplastic. In the secondary and tertiary ways of packaging, paper and paperboard are used. This may be attributed to its inexpensive price, outstanding printability, sustainability, and wide availability.
Pharmaceutical formulations that are liquid or semi-solid are frequently packaged using glass and aluminium. Glass in the amber colour is used for pharmaceutical packaging because it absorbs UV rays.
Future Market Insights has etched these findings with insights in its latest market study entitled ‘Medical Packaging Market’. It has its team of analysts and consultants deploying a bottom-up approach all through their primary, secondary, and tertiary modes of research.
“Technological and scientific advancements are expected to keep the cash registers ringing for medical packaging market in the forecast period”, says an analyst from Future Market Insights.
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Key Takeaways from Medical Packaging Market
- North America holds the largest market share with due to the US being home to large number of key participants.
- Europe holds a sizable market share due to extensive research being conducted on this count. There are players like CureVac and BioNTech that have been proven successful regarding their vaccines; which has prompted the other players to invest in biotech vertical in the UK, Russia, and Germany.
- The Asia-Pacific is expected to grow at a faster rate in the medical packaging market. This could be credited to India and China leading from the front; like ‘Healthy China 2020’ coupled with growing geriatric population.
Competitive Packaging
- Amcor, in April 2021, unleashed new-fangled AmSkyTM blister system to offer environmentally-friendly healthcare packaging.
- Ashfield, in January 2021, announced developing 3 business divisions to offer a plethora of opportunities for medical packaging market.
- Amcor, in April 2022, did launch more sustainable and new High Shield laminates for its portfolio of pharmaceutical packaging.
- Amcor, in June 2021, did launch ACT2100 – a heat seal coating medical packaging solution with the objective of enhancing performance in healthcare applications along with serving the packaging needs of customers’ packaging.
- Amcor, in November 2019, constructed a state-of-the-art 11-layer cast extrusion line at Winterborne Centre of Excellence for cast films at Bristol (UK), investing US$ 10.87 Million.
- Wipak, in November 2019, tabled a novel pouch especially developed to pack robotic instruments and the other long devices. The basic advantage is that the devices are rendered sterile at the time of storage and transportation.
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Key Segments Profiled in the Medical Packaging Market
By Material:
- Plastics/Polymers
- Glass
- Metal
- Others
By Application:
- Bottles
- Trays
- Syringes/Ampoules/Vials
- Blister Packs
- Bags & Pouches
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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